Final Days for Movin 93.9?

[4UH8SIMBKAGN]

The rumor of LMAing Movin by a Mexico City based group is in Tom Taylor's column today (we've already discussed this). April 15 may be Movin's final day?

 

[4UH8SIMBKAGN]

This is thread we've previously discussed this, btw (starting with post #3) http://boards.radio-info.com/smf/index.php/topic,122264.0.html

 

[davideduardo]

The rumor of LMAing Movin by a Mexico City based group is in Tom Taylor's column today (we've already discussed this). April 15 may be Movin's final day?

Glenn, you may also have noted that Tom writes about some significant changes in Emmis management, culled from SEC filings.

 

[4UH8SIMBKAGN]

The rumor of LMAing Movin by a Mexico City based group is in Tom Taylor's column today (we've already discussed this). April 15 may be Movin's final day?

Glenn, you may also have noted that Tom writes about some significant changes in Emmis management, culled from SEC filings.

Emmis SEC filings http://www.sec.gov/Archives/edgar/data/783005/000095013709001602/c49858e8vk.htm Shows Emmis is in a lot of trouble when Rick Cummings is going from full-time to part time and your general counsel is asked to leave.

 

[PapiYankee]

R&R sent a blast confirming a LMA with Grupo Radio Centro just now. So now I ask.... when is Movin's last day?
And how will this affect the other Mexican stations KLAX, KSCA, KBUE, KDLE? Also, will it affect KLVE, KSSE, KXOL, KRCD?

 

[dagrudt]

Re: Final Days for Movin 93.9 April 14

PRESS RELEASE


For Immediate Release
Friday, April 3, 2009
Contact: Ryan Hornaday
Emmis Communications Corporation

Emmis Enters Into Long-Term LMA
with Grupo Radio Centro for Los Angeles' KMVN
Indianapolis...Emmis Communications Corporation (Nasdaq: EMMS) today announced it
has entered into a long-term Local Marketing Agreement (LMA) for KMVN-FM (93.9)
with one of Mexico's leading broadcasting companies, Grupo Radio Centro, S.A.B. de
C.V. (NYSE: RC).
The LMA for the Los Angeles radio station will start on April 15, 2009 and continue for
up to seven years, for $7 million a year. At any time during the LMA, Grupo Radio
Centro (GRC) has the right to purchase the station for $110 million. At the end of the
term, Emmis has the right to require GRC to purchase the station for the same amount.
"I couldn't be prouder of our KMVN team," Emmis Chairman and CEO Jeff Smulyan
said. "It is always difficult to part with a station and our people, but in these challenging
times, it is the right decision for Emmis."
Under the LMA, Emmis will continue to own and operate the radio station, with GRC
providing Emmis with programming to be broadcast. Under the arrangement announced
today, GRC will find a purchaser who meets all applicable FCC ownership requirements
if it is not qualified to own the station at the time of purchase.
Emmis purchased the station in 2000 and flipped format from country to rhythmic pop
contemporary in August 2006.
Note: Certain statements included in this report or in the financial statements contained herein
which are not statements of historical fact, including but not limited to those identified with the
words “expect,” “will” or “look” are intended to be, and are, by this Note, identified as “forwardlooking
statements,” as defined in the Securities and Exchange Act of 1934, as amended. Such
statements involve known and unknown risks, uncertainties and other factors that may cause the
actual results, performance or achievements of the Company to be materially different from any
future result, performance or achievement expressed or implied by such forward-looking
statement. Such factors include, among others:
• general economic and business conditions;
• fluctuations in the demand for advertising and demand for different types of advertising media;
• our ability to service our outstanding debt;
• increased competition in our markets and the broadcasting industry;
• our ability to attract and secure programming, on-air talent, writers and photographers;
• inability to obtain (or to obtain timely) necessary approvals for purchase or sale transactions or
to complete the transactions for other reasons generally beyond our control;
• increases in the costs of programming, including on-air talent;
• inability to grow through suitable acquisitions;
• changes in audience measurement systems
• new or changing regulations of the Federal Communications Commission or other
governmental agencies;
• competition from new or different technologies;
• war, terrorist acts or political instability; and
• other factors mentioned in documents filed by the Company with the Securities and Exchange
Commission.
Emmis does not undertake any obligation to publicly update or revise any forward-looking
statements because of new information, future events or otherwise.
Emmis Communications – Great Media, Great People, Great Service® Emmis is an
Indianapolis-based diversified media firm with radio broadcasting and magazine
publishing operations. Emmis owns 21 FM and 2 AM domestic radio stations serving the
nation's largest markets of New York, Los Angeles and Chicago, as well as St. Louis,
Austin, Indianapolis and Terre Haute, Ind. Emmis also owns a radio network,
international radio stations, regional and specialty magazines, an interactive business and
ancillary businesses in broadcast sales.
Grupo Radio Centro owns and/or operates 14 radio stations in Mexico. Of these 14
radio stations, Grupo Radio Centro operates 11 in Mexico City. The Company's principal
activities are the production and broadcasting of musical and entertainment programs,
talk shows, news and special events programs. Revenue is primarily derived from the sale
of commercial airtime. In addition to the Organizacion Radio Centro radio stations, the
Company also operates Grupo RED radio stations and Organizacion Impulsora de Radio
(OIR), a radio network that acts as the national sales representative for, and provides
programming to, Grupo Radio Centro-affiliated radio stations.
-30-

 

[LA_Guy]

$110 million for a Mt. Wilson class B FM station licensed to Los Angeles. Price guaranteed for 7 years. And we thought that Bonneville got a bargain at 134 million for The Sound.

Remember when 96.3 sold for 250 million and it's not even a Mt Wilson FM?

 

[Carmine5]

Gotta love Emmis CEO Jeff Smulyan statement:

"We want to do what is right to get the best results for our shareholders and employees. While selling a station is always difficult, in making today's announcement, we made substantial progress toward these goals."

Right. Screw local radio just so long as the stockholders are happy. And for that matter, Emmis employees are screwed, at least as far as KMVN is concerned. Exactly how many are going to remain after GRC takes over? How about zero. Talk about corporate BS.

I was under the impression that a foreign company cannot own domestic broadcast properties. Indeed the R&R news item says:

"...if GRC can't make the deal due to international restrictions, a third party assigned by GRC can buy KMVN." I sure hope that doesn't happen or that the FCC puts the sale up for public comment. I already know what I would say.

At some point the American people are going to have to get serious about taking local radio away from Mega-Lo Mart media companies like Emmis. They're killing the industry.

C5

 

[Mediafrog+]

With the U.S. economy tanking, and the radio industry in distress, I've been wondering if there would be some moves to allow some form of foreign ownership. This may be a first step, or a practical workaround until the rules change.

I imagine we'll see a lot more of this, and soon, in markets with large Hispanic populations. I'm in Houston where it might be a possibility.

David Eduardo...your thoughts?

 

[elchupacabras]

R an R repeated the same news as follows: "Emmis LMAs KMVN/L.A. To Grupo Radio Centro

Emmis has signed a local marketing agreement with Mexican radio company Grupo Radio Centro, which will take over programming and ad sales on KMVN/Los Angeles, currently rhythmic AC as "MOViN 93.9." It's a seven-year deal for $7 million per year, and GRC can purchase the station outright during the seven-year period."

GRC recently started trading American stocks again at the end of February.

I am curious just what flavor GRC will embrace. It is going to have to do something completely original if it wants to make inroads into KBUE/KLAX/KSCA's ratings. Hispanic media indicates it will be "grupero." It can't do the same Zeta format as it does in Mexico or it will get killied. I doubt they will copy it, I'm sure they've researched some type of niche.

 

[KPWRairchecks]

Yay. It's time for this played out, stale 80s station to go away. Maybe we'll find a lot on eBay selling off all 60 songs that Movin played.

 

[jasonharper2013]

What Will Happen To The DJ's

I Think Rick dees Will Go Over To Amp Atleast Weekly Top 40 (CHR)

 

[davideduardo]

With the U.S. economy tanking, and the radio industry in distress, I've been wondering if there would be some moves to allow some form of foreign ownership. This may be a first step, or a practical workaround until the rules change.

They will just put it, eventually, in the name of GRC's President's son, born in Houston.

I imagine we'll see a lot more of this, and soon, in markets with large Hispanic populations. I'm in Houston where it might be a possibility.

Depends on finding a distressed station owned by an owner needing some revenue quickly.

 

[davideduardo]

I was under the impression that a foreign company cannot own domestic broadcast properties. Indeed the R&R news item says:

"...if GRC can't make the deal due to international restrictions, a third party assigned by GRC can buy KMVN." I sure hope that doesn't happen or that the FCC puts the sale up for public comment. I already know what I would say.

The station can go to one of the US Citizens that are part of the ownership of GRC, who can then LMA it to GRC forever if they want. No regulations broken, no hearings, no comments.

 

[SportsDotCom]

With the U.S. economy tanking, and the radio industry in distress, I've been wondering if there would be some moves to allow some form of foreign ownership. This may be a first step, or a practical workaround until the rules change.

They will just put it, eventually, in the name of GRC's President's son, born in Houston.

I imagine we'll see a lot more of this, and soon, in markets with large Hispanic populations. I'm in Houston where it might be a possibility.

Depends on finding a distressed station owned by an owner needing some revenue quickly.

That is a heck of a loop hole. Smart.

 

[4UH8SIMBKAGN]

What Will Happen To The DJ's

I Think Rick dees Will Go Over To Amp Atleast Weekly Top 40 (CHR)

CBS will never hire Dees. His demands while negotiating for mornings at K-Earth will not be forgotten. Dees is history. He has nowhere to go (maybe Bonneville, if they ever went to some form of AC on 100.3).

 

[Bob_Hudson]

What Will Happen To The DJ's

I Think Rick dees Will Go Over To Amp Atleast Weekly Top 40 (CHR)

No, he will stay on as all-night DJ "Rico Diaz - El Viejo"

 

[4UH8SIMBKAGN]

What Will Happen To The DJ's

Hopefully one of them will go back to their cruise ship where she should have stayed. As for a certain morning show member, she needs to go back to LPTV where she can again be "talented". She isn't on radio.

In retrospect, Dees biggest problem was he should have hired some talented veteran jocks whom he's worked with at KIIS - who know and believe in him - rather than just mostly lackies from there. He just made himself out to look like an old guy stuck in the 80's early on and nobody would tell him.

As for the music, it was an awful mix for this market from the beginning and certainly wasn't going to get any better when they brought in Little Ricci. There's a guy who has helped close up shop on too many radio stations in this market.

They would have done so much better if they had brought in KIIS and (early) Power veterans for airshifts from the beginning. All things we've discussed for nearly three years here but Emmis never had a clue. Now, how much longer until they have to unload Power?

 

[oldiesfan6479]

What Will Happen To The DJ's

I Think Rick dees Will Go Over To Amp Atleast Weekly Top 40 (CHR)

No, he will stay on as all-night DJ "Rico Diaz - El Viejo"

Haven't you heard? There are no more all-night DJs.
(Except maybe for Heavy Early on 'KRP. )

 

[Michael Rivers Kramer]

I find it interesting that up until now, there are only TWO Mt. Wilson signals broadcasting to a Spanish speaking audience. I know that the 12+ audience share for Spanish language radio in LA is around twenty-five percent. I'm sure 18-49, it's probably higher.

What percentage of revenue is going to the Spanish Language broadcasters in the Los Angeles market? I guess we could include KXOL in that since although most of their announcing is in English, David Eduardo has stated that most of their listeng comes from Spanish dominant housholds.

Thanks!